Wall Street bonus season handbook – What happens to Roblox’s jilted bankers – Walmart launching a fintech

Wall Street bonus season handbook – What happens to Roblox’s jilted bankers – Walmart launching a fintech

The store that has everything wants to launch a fintech.

Walmart said on Monday afternoon it was starting a fintech "to develop and offer modern, innovative and affordable financial solutions," according to a release. 

Details on the venture are vague, outside of the involvement of well-known fintech investor Ribbit Capital “” which has backed the likes of Affirm, Robinhood, and Coinbase.

Walmart is no stranger to the world of fintech. It already runs a fintech accelerator “” TailFin Labs “” with banking-as-a-service provider Green Dot. 

And while it's unclear what Walmart hopes to do with this unnamed fintech, there is no doubt it's already in a fantastic position to succeed. The retail giant has millions of customers and employees to target with whatever it's offering. With customer acquisition costs often a top-of-mind concern for startups, that gives Walmart's project a massive leg up.

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Wall Street bonus announcements kick off this week “” here's when Bank of America, Citi, Goldman Sachs, JPMorgan, and